The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct tabor-hours: The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $4.50 per direct labot-hour and its total fixed manufacturing ovethead is $68,000 per quarter. The only noncash item included in floced manufacturing overhead is depreciation, which is $17,000 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufocturing overhead) for the upcoming fiscal year. Complete this question by entering your answers in the tabs below. Prepare the company's manufocturing overhead budget for the upcoming fiscal year, (Round "Variable manufactiring averitiead rate" answers to 2 decimal places.) The direct labor budget of Yumwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct abor-hours: The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overthead rate is $4.50 per direct labor-hour and its total flacd manufacturing overhead is $68,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $17,000 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufocturing overticad) for the upcoming fiscal year, Complete this question by entering your answers in the tabs below. Compute the company's predetermined overhead rate (induding both variable and fixed manufacturing overhead) for the upcoming ficcal year. (Round your answer to 2 decimal places.)